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Stock-Based Compensation (Tables) | 12 Months Ended
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May 31, 2018
Stock-Based Compensation Expense Included in Consolidated Statements of Income | The following table represents total stock-based compensation expense included in our Consolidated Statements of Income:
Year Ended May 31, |  | 2018 |  |  | 2017 |  |  | 2016 |
(In thousands) |  |  |  |  |  |  |  |  |  |  |  |
Stock-based compensation expense, included in SG&A |  | $ | 25,440 |  |  | $ | 32,541 |  |  | $ | 31,287 |
Stock-based compensation expense, included in restructuring expense |  |  | 2,136 |  |  |  | - |  |  |  | - |
Total stock-based compensation cost |  |  | 27,576 |  |  |  | 32,541 |  |  |  | 31,287 |
Income tax (benefit) |  |  | (7,178 | ) |  |  | (10,159 | ) |  |  | (9,184 | )
Total stock-based compensation cost, net of tax |  | $ | 20,398 |  |  | $ | 22,382 |  |  | $ | 22,103 |
Summary of Weighted-Average Assumptions Related to SARs Grants | The following is a summary of our weighted-average assumptions related to SARs grants made during the last three fiscal years:
Year Ended May 31, |  | 2018 |  |  | 2017 |  |  | 2016 |
Risk-free interest rate |  |  | 2.2 | % |  |  | 1.5 | % |  |  | 2.2 | %
Expected life of option |  | 7.0 yrs |  |  | 7.0 yrs |  |  | 7.0 yrs |
Expected dividend yield |  |  | 2.2 | % |  |  | 2.2 | % |  |  | 2.2 | %
Expected volatility rate |  |  | 26.2 | % |  |  | 25.7 | % |  |  | 25.6 | %
Summary of Option and Share-Based Payment Activity | The following table summarizes option and share-based payment activity (including SARs) under these plans during the fiscal year ended May 31, 2018:
|  | 2018 |
Share-Based Payments |  | Weighted Average Exercise Price |  |  | Number of Shares Under Option |
(Shares in thousands) |  |  |  |  |  |  |  |
Balance at June 1, 2017 |  | $ | 38.77 |  |  |  | 3,055 |
Options granted |  |  | 55.19 |  |  |  | 540 |
Options exercised |  |  | 23.65 |  |  |  | (388 | )
Balance at May 31, 2018 |  |  | 43.36 |  |  |  | 3,207 |
Exercisable at May 31, 2018 |  | $ | 37.74 |  |  |  | 1,865 |
SARs |  | 2018 |  |  | 2017 |  |  | 2016 |
(In millions, except per share amounts) |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average grant-date fair value per SAR |  | $ | 12.90 |  |  | $ | 10.90 |  |  | $ | 10.73 |
Intrinsic value of options exercised |  | $ | 11.10 |  |  | $ | 26.50 |  |  | $ | 22.30 |
Tax benefit from options exercised |  | $ | 3.40 |  |  | $ | 9.70 |  |  | $ | 8.10 |
Fair value of SARS vested |  | $ | 6.50 |  |  | $ | 4.60 |  |  | $ | 4.00 |
Directors Equity Incentive Plan 2003 |
Summary of Share-Based Performance Earned Restricted Stock Activity and Restricted Stock Units | The following table summarizes the share-based activity under the 2003 Plan during fiscal 2018:
|  | Weighted-Average |  |  |  |  |
|  | Grant-Date |  |  |  |  |
|  | Fair Value |  |  | 2018 |
(Shares in thousands) |  |  |  |  |  |  |  |
Balance at June 1, 2017 |  | $ | 45.92 |  |  |  | 70 |
Shares granted to directors |  |  | 51.63 |  |  |  | 24 |
Shares vested |  |  | 44.41 |  |  |  | (27 | )
Balance at May 31, 2018 |  | $ | 48.56 |  |  |  | 67 |
2007 Plan and 2014 Omnibus Plan |
Summary of Share-Based Performance Earned Restricted Stock Activity and Restricted Stock Units | The following table sets forth such awards for the year ended May 31, 2018:
|  | Weighted-Average |  |  |  |  |
|  | Grant-Date |  |  |  |  |
|  | Fair Value |  |  | 2018 |
(Shares in thousands) |  |  |  |  |  |  |  |
Balance at June 1, 2017 |  | $ | 25.04 |  |  |  | 802 |
Shares granted |  |  | 55.19 |  |  |  | 37 |
Shares forfeited |  |  | 24.79 |  |  |  | (11 | )
Shares exercised |  |  | 26.22 |  |  |  | (126 | )
Balance at May 31, 2018 |  | $ | 26.42 |  |  |  | 702 |
Performance Earned Restricted Stock Awards |
Summary of Share-Based Performance Earned Restricted Stock Activity and Restricted Stock Units | The following table summarizes the share-based performance-earned restricted stock (“PERS”) activity during the fiscal year ended May 31, 2018:
|  | Weighted-Average |  |  |  |  |
|  | Grant-Date |  |  |  |  |
|  | Fair Value |  |  | 2018 |
(Shares in thousands) |  |  |  |  |  |  |  |
Balance at June 1, 2017 |  | $ | 47.02 |  |  |  | 1,414 |
Shares granted |  |  | 52.26 |  |  |  | 201 |
Shares forfeited |  |  | 48.39 |  |  |  | (28 | )
Shares vested |  |  | 45.13 |  |  |  | (540 | )
Balance at May 31, 2018 |  | $ | 48.97 |  |  |  | 1,047 |
Nonvested Shares |
Summary of Share-Based Performance Earned Restricted Stock Activity and Restricted Stock Units | The following table summarizes the activity for all nonvested restricted shares during the year ended May 31, 2018:
|  | Weighted-Average |  |  |  |  |
|  | Grant-Date Fair |  |  | Number of |
(Shares in thousands) |  | Value |  |  | Shares |
Balance at June 1, 2017 |  | $ | 43.32 |  |  |  | 2,300 |
Granted |  |  | 52.62 |  |  |  | 262 |
Vested |  |  | 40.21 |  |  |  | (745 | )
Forfeited |  |  | 43.71 |  |  |  | (62 | )
Balance at May 31, 2018 |  | $ | 45.85 |  |  |  | 1,755 |

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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 + Details
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- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
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